Global $26.5Bn Human Capital Management Market Outlook, 2024 - Rising Adoption of Cloud-based Software Solutions Present Opportunities
DUBLIN, Dec. 12, 2019 /PRNewswire/ -- The "Human Capital Management Market by Software (Core HR, Applicant Tracking System, HR Analytics, Workforce Management), Service, Deployment Type (cloud and on-premises), Organization Size, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The HCM market is estimated to be USD 16.7 billion in 2019 and projected to reach USD 26.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.
Increasing government regulations and growing need to monitor entire employee lifecycle are the major factors that will drive the adoption of HCM solutions across enterprises
The Asia Pacific (APAC) region is expected to be the top adopter of HCM solutions where the vertical will have the highest growth rate during the forecast period. The APAC region has huge potential in terms of adoption due to the presence of countries such as India, China, and Japan, growing workforce, and huge number of small and medium enterprises. Small and medium enterprises are expected to have high adoption of HCM solutions in the next 5 years due to the rising demand by these enterprises to manage their workforce.
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